US Agencies Extend Comment Period on Proposal to Simplify Volcker Rule
US Agencies (CFTC, FDIC, FED, OCC, and SEC) extended until October 17, 2018, the comment period for a proposed rule to simplify and tailor compliance requirements for the Volcker rule. The Volcker rule restricts banking entities from engaging in proprietary trading and from owning or controlling hedge funds or private equity funds. The public comment period has been extended to allow interested persons additional time to analyze the proposal and prepare their comments.
US Agencies issued this proposal in early June with a sixty-day comment period that began after the publication of this proposal in the Federal Register on July 17, 2018. The proposal is to amend the regulations implementing section 13 of the Bank Holding Company Act. The proposed amendments are intended to provide banking entities with clarity about the activities that are prohibited and to improve supervision and implementation of Section 13.
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Keywords: Americas, US, Banking, Securities, Volcker Rule, US Agencies
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